Moldova Hopes to Spur Economic Growth through First Blockchain Association

Moldova is looking to benefit from the blockchain technology, the key driving force being the Digital & Distributed Technology Moldova Association (DTMA). With support from peers abroad, local tech specialists recently launched this blockchain-oriented group in the tiny Eastern European country, which borders Romania and Ukraine.

Given that Moldova is the poorest country in Europe with an annual GDP per capita of around $2,200, blockchain could provide several use cases to boost the local economy and quality of life.

The DTMA’s primary goal is to bring international projects to the country and engage the local workforce in the blockchain space. At the moment, the group is involved in several blockchain-based projects that might support the local economy.

This month, DTMA is planning to start a crypto exchange that will feature eight fiat currencies, including the US dollar, euro, Swiss franc, British pound, Romanian leu, and Russian ruble. The local fiat currency – the Moldovan Leu – will probably also make the list. As for the cryptocurrency options, traders will be able to choose from Bitcoin, Ethereum, NextCoin, ZOZO Coin, and DTMI token. The latter is a Dash version launched in November 2017 to support DTMA. The crypto exchange will be the first of its kind in Moldova, while DTMI may be considered the first crypto token in the country.

The DTMA is currently negotiating with the local government to set up a tech zone that would offer tax relief for blockchain projects and may help bring international tech experts to Moldova.

The association is also holding talks with local companies to create a regional tech and blockchain hub, which would position Moldova as a link between Europe and CIS countries.

In the future, the DTMA intends to implement blockchain in different sectors, including financial, healthcare, education, agriculture, social protection, and science.

Earlier, we reported that Moldova was considering the use blockchain technology to fight child trafficking.